tv Maria Bartiromos Wall Street FOX Business July 27, 2018 8:00pm-8:30pm EDT
the company lost a million users in the second quarter. twitter recently removing millions of fake accounts and shadow banning conservative voices. >> announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." maria: welcome to the program that analyzes the week that was and positions you for the week ahead. i'm maria bartiromo. imax ceo joins us. plus a preview of my exclusive interview with vice president pence. reporter: the biggest economic news of the week was friday's gdp report it was the strongest
since 2014. it got rave reviews from investors and the president. the president predicted annual growth of higher than 3% for the rest of the year. facebook dropped 18% in one day, losing more than $119 billion in market value. one of the largest losses for any company ever in history. it missed revenue expectations and lowered its outlook. the company invested millions of dollars for privacy measures after fake news and election meddling issues. facebook pushed the nasdaq to its biggest drop. amazon had a standout week. its shares hit a record high as
profit topped $2 billion. powered by its best operating margin in 13 years. amazon web services was the star. it generated 55% of the total operating income. the company benefited from its purchase of whole foods. upscale grocery chain. a trade war with europe is on hold. the e.u. will buy more soy beans and liquefied natural gas from the u.s. and in return the u.s. will not impose new tariffs on european vehicles. maria: as you just mentioned a big second quarter gdp report. the u.s. economy surging ahead 4.1% in the second quarter. this follows a revised growth
number in the first square and 2.3% gain for all of 2017. in a fox news exclusive i spoke with very much mike pence to get his reaction. >> in the last two administrations the economy grew by less than 2%. in the first two months of this administration, we were a little shy of 3% last year and we are on track to be 3% or better this year. we believe the internals of these numbers whether it be the dramatic increase in bins investment or american exports support the conclusion that the policies president trump have been advancing and a republican congress have been supporting are working to revive this economy. maria: we'll have more from the vice president in just a moment. the entire interviews on "sunday morning futures" this weekend
and you can catch it on fox business on monday morning on something "mornings with maria." right to my panel we go for more gdp reaction. payne capital management manager ryan payne and james freeman. let's first get this reaction. we were expecting a good number, ryan. where does this fit in for your expectations? >> i have been a raging bull for a long time. this fits into my bleft american economy is in great shape and this is validation. maria: it's validation on business spending and on the consumer. consumers spent money rather than saving it. businesses unleashed their pocketbooks. >> a lot of happy consumers,
confident consumers and business executives. business spending up 7%. slower than the first quarter but still very robust. this is just what the administration was hoping for with the corporate tax rate cut. maria: where do you think this goes now. what are you going to be watching in terms of more evidence this economy is firing on all cylinders? >> this is a long-term change in the competitiveness of the united states whether it's the 21% corporate tax rate which makes us right in the middle with the rest of the world and the deregulatory effort by the president. this is the first time in several presidentsies where there is not some big regulatory effort coming down the pipe. maria: for a long time
business% sitting on cash and unwilling to make big investments because they didn't know what was coming around the corner in terms of regulation. >> that's right. it's the protein for gdp. when you start seeing capital expenditure, that's when you see things start to cook. and we are in the later part of this cycle. so that's where we are at right now. that's an extremely bullish sign if you are an investor. maria: what about the market reaction. initially when the number came out, it was really flat. >> i think what's happening right now is everyone is not believing how good things are. i would argue is another bullish sign. when sentiment is not that bultish, that's -- not that bullish. i think that muted reaction is where we have been for a long time.
we had overhang of trade wars and the yield curve. i think all this stuff is noise. if you are an investor, take advantage that no one is really excited. maria: ? in terms of the impacts this will have on commission growth. >> the trade fights are a threat. but to demonstrate how how good this economy is. policy makers in the administration are having meetings thinking about how do we get more people to join the economy to fill all these unfilled positions. how do we find more workers to take all these opportunities. this is a special moment in terms of an economy that's roaring. there is no other way to put it. maria: we'll leave it there. thank you so much. ryan payne, james freeman joining us. my interview with richard
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jurassic kingdom raked in 25% of its stick the sales from china alone. richard gelfond says china is not likely to retailate against hollywood. joining us is richard gelfond from imax. you have got business in chain a and saudi arabia. >> we are in 80 countries. we have a fairly unique perspective. so far the trade fight hasn't impacts us. we are a canadian country. on the hardware side there is nothing to retaliate against. on the software side we have our eyes open to what may happen and will there be consequences for hollywood films. consumers love the films be
cinema is a growth industry. in china there are economic reasons to do it. it's a mutually beneficial industry. the hollywood films portray china in a way that they are happy about. years ago they used to portray chinese as communists with a negative connotation. but more recently hollywood has been portraying china as the good guys. i don't think it makes sense for china to impose them. saudi arabia opening its market to movie theaters which is new under the new crown prince. your thoughts on what kind of market share you can get in saudi arabia. >> i think we can get a significant part of that market. if you were building a multi
plex today you have would want imax to be in it. in china we do on a typical blockbuster 10% of the whole country. saudi arabia is similar. they are not tied down by existing infrastructure. theater of any kind in saudi arabia was an imax theater at a science center. i think saudi arabia eventually could have 500 screens, maybe 1,000 screens. now because we have exclusive zones and what not, i don't know what the number could be. but i think it could be between 50 and 100. maria: you had a great second quarter. it was the best ever for movie
going at the box office? >> it was the highest domestic box office ever. tierks max tide our -- imax tied our record. eyeimax's box office was up. we concentrate and blockbusters and concentrate on global. maria: ways happening the tradition -- what is happening with the traditional movie companies. how do you think things change. disney is on the doorstep of acquiring fox 21st century assets. >> i think you will see more
blockbusters. i think that's one of the things that attracted disney to fox. disney realizes you can't advertise the cost of some of these things over a theatrical release. sequels, airplanes, international merchandising. all those things. i think you will seat studios reacting by making those bigger budget movies. on the streaming platform itself they will make made for streaming movies. but going back to what i said previously, the mid-level movies that don't release in a streaming format. but disney gets this. maria: tell me where your business goes the rest of the year. what kind of outlook are you giving? >> it's a strong first half. after "mission impossible" there
are a number of blockbusters on the horizon. warner has a film called "fantastic beast." and "a star is born" starring lady gaga. we have "first man" which is ryan gosling. it's a space movie about neil armstrong filmed in part with imax cameras. christmas there is "aqua man." maria: richard, great stuff. thanks for joining us. great to see you. richard gal fond. -- richard gelfond, ceo of eyef
imax. >> announcer: energy secretary, rick perry, goes one-on-one with maria. ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia. back pain can't win. now introducing aleve back and muscle pain. only aleve targets tough pain
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maria: america become less dependent on foreign energy source. the u.s.a. is currently on pace to become a net energy exporter by 2022. as part of that effort, the first natural gas liquification facility was dedicated on the east coast. energy secretary rick perry played an important role in that. >> this one of a total of six.
we have twowp and running. -- we have two up and running. but this is a fabulous opportunity to send a message. i was in belgium about two weeks ago talking to my counterparts in the e.u. as i also talked to some folks from other parts of the world as well. they know we have this extraordinary supply. what happened in the energy sector is phenomenal from the standpoint of liquefied natural gas it has multiple impacts. for national security in america. that we are able to supply our own gas and oil supply, and also to go to our allies. that was the message the president had for the e.u. president. this isn't just an economic thing for the united states, it's about the supply and security our allies in the
european theater. they don't have to be held hostage with just one supply of gas. the united states whether it's going into polled or the southern part of the european union, they can rest assured the united states is going to be mr. there, be a supplier with no strings atwached liquefied natural gas. maria: what kind of deal are we talking about? the president pushed back at the nato meeting saying we are protecting you from russia and you are buying your gas from russia. is he going to take some of that market share? >> absolutely. that's what we intend to do. the nord stream 2 and the turkish stream are not commercially viable. they are there so russia can be the sole supplier of energy for the european union.
germany is, i think austria has a tendency to be for it because they have a company that will help construct it. but the final decision-making process. i think the europeans recognize the united states is a supplier of lng. they want to have. it gives them security from a national security standpoint. and it will have a massive positive impact upon the environment. we have seen that in the united states the last decade. 14% decrease in our carbon emissions. so they can do two things that are good for them. national security and help with their environment. maria: don't go anywhere. more "wall street" after this.
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maria: a look at some of the big market events coming up that could impact your money. we'll get data on pending home sales. it's another big week for earnings. caterpillar is typically a market mover. tuesday will be a big market day. and then earnings from am and pfizer. wed date latest data is for the adp employment report. auto sales are out as well. and tesla, sprint and the carlisle group. turning to earnings we have cvs, and kellogg reporting earning.
tune in to "mornings with maria" at eight:00 a.m. eastern when we identify where the jobs are today. i hope you will join us. we'll talk private equity investing today. my exclusive interview on "mornings with maria" with vice president mike pence. the president tweeted with the federal reserve. if the economy is so great where not raise -- why not raise interest rates? >> we respect the federal reserve. but what we don't want to see happen goin going forward. we don't want policies that diminish the tremendous energy we have in this economy today.
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